Legal Tech Solutions Increase Practice Efficiency
22 April 2022
Technology continues to have a positive impact on every aspect of our lives. Increased data transmission efficiency and the development of more powerful computers and mobile devices have enabled us to access information in ways we never thought possible.
As a result of these advancements, sophisticated legal products and law firm technology have positively impacted how legal services are delivered.
Legal Tech Products
New technology and products for law offices are continuously under development to meet increasing demand. As a result, selecting the appropriate solution is crucial to maintaining efficiency in the practice. According to Lawyerist.com, law practice software can be classified into the following types:
Electronic Discovery (eDiscovery) Software
Preparing information for cases involves compiling and sharing many documents and files with several parties. Additionally, case-relevant online media such as emails, text messages, photos, and social media content must be collected and distributed. With eDiscovery software, these items are uploaded digitally and able to be shared immediately. eDiscovery software can also search across many applications to extract necessary data. This legal tech product also uses powerful data analytics to generate reports as needed.
Cloud-based software packages are robust solutions that allow applications and data to be remotely stored and processed in a highly secured managed host provider. Using a cloud provider, the law office does not incur the costs and responsibilities of maintaining in-office servers. Backup software is usually included in this configuration, so information remains protected from any catastrophic loss. The provider can quickly restore any lost information since they do frequent backups. Information is always accurate and current, where several parties at once can access and document changes in real-time.
Practice Management Software
Practice management software help manage many aspects of the office, including appointments, schedules, deadlines, and case records. This all-in-one legal tech solution can help run the day-to-day law firm operations more efficiently.
Since the law firm is a business, it must track finances accurately. Accounting software can tackle general bookkeeping functions for the office.
Timekeeping and Billing Software
Tracking time and creating invoices is an integral part of law office operations. This software can track time and create invoices as well as track billing.
A recent survey revealed that 64% of large law firms and 43% of midsize law firms use technology tools such as those listed above to replace human resources departments. These tools have resulted in reduced spending since these departments do not generate revenue.
Other Technology Applications
Legal products have been proven to improve efficiency in the law office. Thomson Reuters covers two significant ways that technology is used in the law firm to save time and costs for both clients and legal staff.
When dealing with online legal files, security is of the utmost priority. Lawyers rely on sharing a multitude of documents with many parties. For this reason, online client portals have become a highly efficient mechanism to upload and access this information. These secure online portals are used for clients to review documents, respond to queries, sign requests, and handle other legal inquiries from attorneys. This saves substantial time and legal costs for clients who can access these documents at their convenience and respond to them without the need for in-person meetings. The above-described cloud-based providers host these client portals, which can be accessed by computers at the practice as well as mobile devices.
In the face of the current pandemic, video conferencing has replaced face-to-face meetings in every facet of business and education. The legal profession is no exception, as clients prefer to use this technology from the comfort and safety of their homes. Law firms have harnessed video conferencing technology to hold virtual meetings with other legal personnel in addition to their clients.
It is clear to see that legal tech has enabled firms to meet the needs of their clients in several ways more efficiently.
For more information on how Advantage365 can help your law firm, please call us on 0121 212 6580 or request a free call-back using our contact form https://www.advantage365.co.uk/contact to get free initial advice. You can also access a wealth of free business information for lawyers by visiting our digital Resource Centre https://www.advantageconsulting.co.uk/resources and view our free Business Factsheets https://www.advantageconsulting.co.uk/factsheets.
Alternatively, please subscribe to our services here https://www.advantage365.co.uk/subscribe-advantage365 or book an online consultation here https://www.advantage365.co.uk/book-online, or email us on email@example.com